Kinetic Engineering, an auto component manufacturer, has announced an investment of ₹30 crores into its newly formed electric subsidiary, Kinetic Watts and Volts. This strategic infusion builds upon the company’s initial investment of ₹18.5 crores, raising the total investment to ₹48.5 crores.
The fresh capital investment will be used for research, development, and manufacturing capabilities. The funding will also support the development of high-performance, efficient, and sustainable electric vehicle systems, with an emphasis on state-of-the-art battery solutions designed to enhance vehicle range, reliability, and energy efficiency.
Commenting on this development, Ajinkya Firodia, Managing Director of Kinetic Engineering, stated, “The electric vehicle market is rapidly evolving, and Kinetic Engineering is dedicated to staying at the forefront of this revolution. With the latest infusion of capital into Kinetic Watts and Volts Limited, we are not only reinforcing our commitment to innovation but also taking tangible steps towards a more sustainable future. This investment will empower us to create efficient, reliable, and advanced electric mobility solutions for our customers in the Indian market.”
Kinetic Engineering (KEL) is the flagship company of the Kinetic Group with five decades of manufacturing experience. Kinetic is led by Ajinkya Firodia, Managing Director, who appears as one of the angel investors in the first season of Indian Angels, an OTT angel investing show recently premiered on JioCinema.
The company’s manufacturing unit in Ahmednagar is spread over 70 acres and has over 1000 employees, 32 manufacturing sheds, and more than 400 machines.
The firm’s customer list includes Renault, American Axle, TATA Motors, Mahindra & Mahindra, Ashok Leyland, Magna Powertrain, Sonalika tractors, Carraro products, and many others. It has over 1,000 employees at its large manufacturing plant in Ahmednagar, while its corporate office is based in Chinchwad, Pune.
